Stocks report: Record high on WIG20

The overall index WIG gained slightly above three percent and the only loser was the Midwig.

The best performing sector was banks, due to the upgrade to a long-term recommendation for PKO BP. Investors reacted positively, and PKO BP was sharply up by nearly 15 percent on the week. Rising PKO BP stock also helped the other banks.

Investors also like IT shares, which was the next-best-performing branch, where Emax, Computerland and Prokom gained the most. The first two are to merge in the near future, and investors are gambling on positive synergies in the coming years.

Media companies were also in the spotlight, thanks to the purchase of a 25-percent stake in Polsat TV by Axel Springer. It caused some worries about TVN's value, and had a negative effect on Agora's business (due to possible cooperation between Polsat and Axel Springer newspapers). Both Agora and TVN shares inched lower on the week. The biggest nominal losers were Hutmen and Duda, but it must be remembered that both companies set rights to new issues, which hurt their stock.

Next week the most important event for investors will be Ruch's IPO, the only one company sold by the State Treasury this year. The IPO market is strong and many investors would like to subscribe for new shares.

Tomasz Jerzyk,

technical analyst DM BZ WBK SA